Legal News & Updates

Ongoing coverage of the legal and regulatory fights shaping US prediction markets, including CFTC actions, state challenges and court battles as they develop.

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New Jersey Set to Appeal Third Circuit Ruling to Supreme Court, Keeping Kalshi Case on Hold

Both sides in Kalshi v. Flaherty have requested that the trial court extend a stay on the case until the US Supreme Court acts on New Jersey’s...

Derek Helling

May 20, 2026

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Legal News & Updates

Kalshi Faces New Complaint From Tribal Gaming Authorities In New Mexico

A coalition of four tribes has sued Kalshi in a New Mexico federal court, alleging that trading sports-related contracts on the exchange violates the Indian Gaming Regulatory...

Derek Helling

May 19, 2026

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Legal News & Updates

Minnesota Governor Signs Bill With Prediction Market Restrictions to Set Up Lawsuits

Gov. Tim Walz signed an omnibus bill enacting several new public safety measures in Minnesota, including a ban on prediction market trading, on...

Derek Helling

May 19, 2026

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Legal News & Updates

Minnesota Sends Prediction Market Restrictions to Gov. Walz, Setting Up Legal Showdown

The Minnesota legislature has sent a bill that would ban prediction market trading and criminalize the operation of the exchanges to Gov. Tim...

Derek Helling

May 14, 2026

Wisconsin allows Ho Chunk Nation to pursue case against Kalshi

Legal News & Updates

Federal Court Grants Ho-Chunk Nation Leave to Pursue Claims Against Kalshi

The US Court for the Western District of Wisconsin denied Kalshi’s motion to dismiss the Ho-Chunk lawsuit regarding potential IGRA...

Derek Helling

May 12, 2026

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Legal News & Updates

Fourth Circuit Panel Signals Doubts on Kalshi’s Injunction Request in Maryland

Oral arguments in federal and state courts involving Maryland and Massachusetts this week featured heavy skepticism of Kalshi’s claims about sports event contracts being out of reach of...

Derek Helling

May 8, 2026

Judge bars arizona from criminal case vs kalshi

Legal News & Updates

Federal Judge Permanently Blocks Arizona’s Criminal Case Against Kalshi on Preemption Grounds

An Arizona federal judge has permanently blocked the state from pursuing criminal charges against Kalshi, handing the CFTC a major win in its escalating battle to assert exclusive federal...

Valerie Cross

May 5, 2026

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Legal News & Updates

Kalshi’s Sports Contract Cases Turn on Three Textual Hurdles: A Field Guide to Legal Fault Lines

A May 4 deadline looms for Kalshi to geofence Nevada after Carson City District Court Judge Jason Woodbury granted a preliminary injunction to the Nevada Gaming Control Board on April 28....

Valerie Cross

April 30, 2026

Legal News & Updates

CFTC Escalates Fight to Wisconsin, Raising Stakes for Seventh Circuit Review

The Commodity Futures Trading Commission (CFTC) released a statement on Tuesday announcing that it has filed a lawsuit in response to Wisconsin’s legal actions against the operators of...

Derek Helling

April 29, 2026

Legal News & Updates

CFTC Sues New York, Opening New Front in Prediction Markets Preemption Fight

Four federal circuit appeals courts have already weighed in, albeit in limited fashion, on the dispute over the classification of prediction markets and state sovereignty. Thanks to a new...

Derek Helling

April 27, 2026

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